Consider a 30-year, $155,000 mortgage with a rate of 6.05 percent. Ten years into the mortgage, rates have fallen to 5 percent. What would be
Consider a 30-year, $155,000 mortgage with a rate of 6.05 percent. Ten years into the mortgage, rates have fallen to 5 percent. What would be the monthly saving to a homeowner from refinancing the outstanding mortgage balance at the lower rate? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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Authors: George H. Pink, Paula H. Song
8th Edition
1640551093, 978-1640551091
